Bank of China Hong Kong

The successful transformation of the Bank of China Hong Kong will go down in history as a major chapter in the globalization of Chinese firms and the reaffirmation of Chinese influence in the world of banking and finance.

In retrospect, it will read like a fairy tale, for sure:

For within a short space of time, BOCHK has undergone, in overlapping sequences: consolidation and restructuring of ten sister banks into an integrated entity; migration from state-owned mentality to customer-centric mentality; change in corporate governance mechanism; public listing; internationalization of risk management standards; leadership change; massive internal reforms; cultural re-integration and redesign….and all the while maintaining operational dependability and business growth; securing market leadership in syndication loan market, mortgage lending and RMB banking business in Hong Kong; building product and service innovation capabilities; improving efficiency, management and control; rationalizing branch networks; consolidating and re-engineering back office processing operations.

No small measure of success indeed. And within this fairy tale, IT has been an integral part of this multiple metamorphoses. The re-design of its information infrastructure to facilitate integration, the standardization of core and peripheral business processes, the migration to e-banking and e-trading platforms, the automation of front, middle and back office processes, the enablement of product and service innovations….

ICO is there. We are proud to be associated with this massive transformation. And no matter how small, we played our part through multiple projects over the years. Basel II risk management compliance; Web Teller Systems construction; professional services provisions….

It is amazing to see how many ways there are for corporate leadership to harness and orchestrate the power for IT to substantiate noble strategies and ensuring outcomes.